Spike in scams where swindler texts appear to come from bank
Bank of Ireland has warned its customers about a spike in bank impersonation scams in recent weeks, writes Helen Bruce.
It reminded people to be extra vigilant in light of the many reports of fraudulent text messages designed to trick people into making a payment or giving away their bank details.
“There has been a significant increase in cases recorded throughout May, with the pattern continuing this week,” a Bank of Ireland spokesman said.
They said their customers had received a text that seemed to come from a trusted source, such as Bank of Ireland.
The message typically references a suspicious or declined transaction and pressures the customer to respond or act quickly.
The customer is often asked to call a phone number, but is then connected to a fraudster posing as a member of the bank’s fraud team, who convinces the customer to make a payment or give away banking details.
Some customers are told their money is at risk and must be moved immediately to a “safe account”.
In reality, the “safe account” is controlled by the fraudster and the money is lost.
In some cases, the bank said, scam texts can even appear under trusted contact names stored in a customer’s phone, making them even harder to spot.
It gave the example of Tom, a man in his 50s who received a text that appeared to come from Bank of Ireland. The text asked if he recognised a transaction for €130 to a well-known company, instructing him to reply ‘No’ if he did not.
Concerned, Tom replied immediately. Within minutes, he received a follow-up text urging him to call Bank of Ireland using the number provided.
He dialled the number and was convinced he had reached the bank’s fraud team.
The caller sounded professional and reassuring, but quickly created a sense of urgency, warning Tom his money was at risk.
He was told the safest course of action was to move his money to another account while the issue was being resolved.
Anxious to protect his savings, Tom followed the instructions and transferred €10,000 to an account that, unknown to him, was controlled by fraudsters.
While keeping him on the call, the fraudster extracted highly sensitive information, including Tom’s online banking details, security verification credentials and even his passport information.
Nicola Sadlier, head of fraud at Bank of Ireland, said: “Many people believe this is something that would never happen to them.
“But these scams are carefully designed to feel real, and anyone can be targeted.
“Fraudsters use familiar brands and everyday transactions, and create a sense of urgency to respond.”
She continued: “They know how to create convincing conversations that feel legitimate, and how to apply just enough pressure and pace to stop people hesitating in the moment.”
Ms Sadlier said the most effective defence is a “zero trust” approach.
“Pause and question any unexpected contact, even if it appears to come from your bank,” she advised.
“Never rely on phone numbers or links provided in messages. Call your bank directly using a trusted number from its official website or the back of your card.”
The bank also has a TextChecker service.
People worried that texts may be scams can copy the text they wish to verify and paste it into a new message, add the word CHECK before the same text, and send it to 50365.
“There has been a significant increase in cases recorded throughout May, with the pattern continuing this week,” a Bank of Ireland spokesman said.
Alternatively, they can email a screenshot to 365Security@boi.com and then delete the message.
Customers of the bank who believe that they may have shared banking information should call the Bank of Ireland 24/7 Freephone line immediately.
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